[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
In 2010, post the global financial crisis, the commercial real estate sector of India reversed
and put itself on a slow yet steady growth path. From 2016-2019, the annual office space
leasing activity increased from 41.6 million square feet to 58.6 million square feet, translating
into a compounded annual growth rate of 12% over the three years.
India has emerged as the preferred destination for setting up global in-house and research
and development centers for topmost global firms, leading to global investors and private
equity firms showing keen interest. In the year 2019, the commercial real estate sector attracted
foreign and domestic investments to the tune of 3.3 billion dollars.
Lower operating cost, availability of abundant talent, and business-favorable state policies
have contributed to this massive growth – making commercial real estate the blue-eyed boy
of India’s growth story.
At the end of Q1 2020, with the onset of COVID-19, a pandemic resulting in job losses, pay
cuts, and health scare, the Indian real estate sector was ailing. A nation-wide lockdown
initiated the largest remote working experiment which made businesses press pause on
their real estate decisions, added to this was a labour shortage following a mass exodus of
migrant workers from metro cities back to their hometowns. This put commercial real
estate markets’ resilience to test.
Despite the short-term disruption, India’s commercial real estate sector continues to attract
interest from occupiers and investors looking at medium and long-term horizon.
Read more at: https://www.moneycontrol.com/news/business/real-estate/covid-19-put-commercial-real-estate-markets-resilience-to-test-in-2020-6211741.html
Have a nice day